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Roger L. Neu

 

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Escrow

Question: Will I have to pay tax on money put into escrow before I actually receive it?

If part of the purchase price is held back and put into an escrow, the escrowed funds will not be taxable to the Seller if the Seller does not have “constructive receipt.” The Seller will not be deemed to have constructive receipt if the Seller does not have access to (or any right to receive) the escrowed funds prior to the release date from escrow and the earnings in the escrow are not credited for the benefit of Seller.


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